The world’s most popular virtual currency continues to rise to record, reaching over $ 35,000 a coin a few hours ago.
Bitcoin’s price rebounded sharply this afternoon, from $ 33,800 to a new peak of $ 35,751 in less than an hour. Currently, each coin is trading around $ 35,100, according to CoinDesk. As such, prices have increased by more than 12.5% in the past 24 hours.
On January 2, Bitcoin started the new year by crossing the $ 30,000 mark and continuing to rise above $ 33,000 just a few hours later. In recent sessions, the price has been continuously fluctuating, sometimes down to 29,400 USD, demonstrating the unpredictable nature of this virtual currency.
Last year, Bitcoin increased more than 300%, December alone was 50%. Bitcoin rose sharply as it was increasingly seen as digital gold, attracting many institutional investors, such as the Skybridge Capital, MassMutual and Guggenheim funds.
The US Federal Reserve and the central banks of countries loosening their currencies to minimize the economic consequences of the epidemic also helps Bitcoin benefit. Since this is seen as a catalyst for inflation, it is possible to bring the price of the US dollar down, thereby pulling Bitcoin up.
Global political instability, the impact of Covid-19 and concerns about Brexit are also believed to help investors turn to Bitcoin. The capitalization of this virtual currency is currently 654 billion USD.
Ha Thu (According to CoinDesk)